Advanced Forex Blog
Know When You are Wrong and Exit With Small Losses With Proper Lot Size Management.
August 13, 2020 | 1:08 pm | Advanced Forex Blog
August 13, 2020 | 1:08 pm
Advanced Forex Blog
Once a while I can get overtrade on my personal account, trading with The5%ers with controlled on lot size is really helpful
“Proper lot size management”.
Aris has just successfully passed our evaluation program with a great trading plan and has become a forex funded trader.
He is now one of our funded traders and is trading with a 40K forex funded account on our platform.
His next mission is to reach 10% of profit and double his funds to 80K.
We spoke with Aris about his trading plan, insights, and lessons gained while trading in the Forex market and on our platform as a funded trader.
Click here for more Inspirations lessons and interviews from our professional funded traders
- How were you introduced to the Forex market?
I like to deal with numbers and my educational background is in Mathematical Statistic. In one of my statistics courses (while I was studying in a university in Washington DC, USA) I was given a free copy of Wall Streets Journal every Saturday to analyze market / financial data. From there I start to develop an interest in the stock market, and later into the foreign exchange market in 2007 when trading is available online.
- Do you have a specific trading plan?
Yes. I have my own algorithm that tells me when to enter and exit a trade when needed.
- Tell us about your trading routine.
I will monitor the market mostly during the London session and the first half of the US session assist by my 21 years old son who is also funded with another firm.
- Do you have any risk management techniques? If so, please, elaborate?
Yes. I will exit a trade even though lost if my system tells me that market direction is likely to change.
- What was your biggest challenge in trading, and how did you overcome it?
Once a while I can get overtrade on my personal account. Thus trading with prop firm like 5%ers with limitation on lot size is really helpful.
- What was the key moment of your trading career?
I am still waiting for that key moment to happen. That could be when I can successfully achieve a trading capital of 1.2 mill USD with 5%ers or trading a significant amount of funds with a constant average return of 5-10 percent per month while maintaining drawdown of less than 2 percent.
- In your opinion, what are the most important characteristics for maintaining a steady trading career?
Knowing when we are wrong and exit with minimal damages together with proper lot size management.
- Do you apply any mental/psychological routines while trading? Please elaborate.
Yes. If I have a position I will wait as long as my system suggests that I am still the right direction. Otherwise, I will just cut loss and fight in another day / another trade.
- What was your strategy for successfully passing The 5%ers’ Evaluation Program?
Stick to the trading plan and act fast.
- Please share your recommendations for online resources that were/are significant in your trading development. Name and links are appreciated.
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